Tuesday, 11 May 2010

Product Development - Pricing. Do You have a Formula?

Recently I have been told that I charge too much for my products and I wanted to find out your opinion on my designs... Have a look at my 'sold items' page and tell me what you would reasonably pay for an item on there... http://www.etsy.com/shop_sold.php?user_id=5229385

I would love to hear your thoughts and I will post another blog about my pricing formula next...
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10 comments:

  1. Gaby - Hopeless Lingerie11 May 2010 at 10:38 am

    No way. They are priced very well. I would have guessed $15-$20 for feather earrings - and then I looked at that section in your store and its pretty on par!

    Ignore what other people think - this is a business, and you have to charge according to time, materials, and a profit margin. If you have a formula to cover your costs, then thats what you should be worrying about!

    Gaby xoxo

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  2. Noogal Creations11 May 2010 at 10:59 am

    Thanks Gaby for the advice! I am trying to stick to my guns :)

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  3. Viking Jones12 May 2010 at 11:47 am

    Hey! I think your prices are fine. This article may help if you have doubts: http://www.home-jewelry-business-success-tips.com/jewelry-pricing-formula.html

    But if you're covering the costs of materials, your time, and leaving enough room for a decent profit margin then you should be fine. I have no idea what it would take to connect a feather to anything for earrings, so I couldn't tell you if you're charging too much or undercutting yourself. But I wouldn't mind paying your prices even though it would be for a gift since I don't have pierced ears. :)

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  4. Noogal Creations12 May 2010 at 12:02 pm

    Thanks for the feedback. Greatly appreciated! Yes I have a formula and I'm sticking to it... for now.

    Thats a good idea. I have had someone else say before they don't have pierced ears... might look into some clip on designs!

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  5. Viking Jones13 May 2010 at 5:12 am

    I had mine pierced before but I never wore earrings. I never was a "girly" girl. But that doesn't keep me from buying them as gifts or making them for my shop. :)

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  6. The World Is My Studio13 May 2010 at 9:36 am

    I love your jewelry.. and I think you have good prices! Some people don't take into account the time and creativity and material fees it takes.

    Cool- I'm your 100th follower! :)

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  7. Secret Jewellz13 May 2010 at 10:08 am

    I think your prices are spot on Emma. You make unique feather earrings. And that uniqueness also has to be factored in to the price.

    Love your earrings as you know. :)

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  8. Noogal Creations13 May 2010 at 3:24 pm

    Thank You Everyone! I love your feedback and I think sometimes people overlook time and love and affection that go into each piece. YAY! 100 followers thank you so much xx

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  9. Anastasia19 May 2010 at 1:12 pm

    i guess we always hear one person and that makes us question - im bad with pricing myself but i dont think you're prices are high...handmade is a totally different market!
    and go with gut instinct..you are doing OK!!

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  10. Noogal Creations19 May 2010 at 3:02 pm

    Thanks AC! I'm keeping positive! Love your work :)

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